In October 2017, Canaan Resources received permission to have a 640 acre horizontal unit in Section 32, Township 8 North, Range 12 East. I have inherited mineral interests from my mom, but did not know that I had any interests in Section 32 until I received information about Canaan Resources and then an offer to purchase my interests there from Red Stone Resources; I did not pursue the latter.
This week, I received a letter from Needham Energy acting on behalf of Canaan. This is a force pooling letter that provides me with four options--such as "lease/assign your interest for a three-year term at $200.00 per net mineral acre bonus and a 1/5th royalty interest."
My understanding is that the company was supposed to exercise due diligence in finding me before I was force pooled; I do not feel that they did so. Several energy companies have contacted me over the last few years with offers for other sections in Hughes County, so I'm clearly not difficult to locate.
Is there any way to negotiate with Canaan/Needham at this point? Is it better to be force pooled? A key piece of information that I'm missing is what exactly my mineral interests are in Hughes County.
Any advice would be welcome. Thank you.
Jane J.